Understanding the ATI Property Tax Exemption in South Carolina: What Myrtle Beach Buyers Need to Know
For many Myrtle Beach homebuyers, property taxes are one of the biggest ongoing expenses to plan for. South Carolina offers a valuable tax benefit called the Assessable Transfer of Interest (ATI) Exemption, which can significantly reduce the taxable value of certain properties after a sale. If you purchased a property taxed at the 6% assessment ratio — such as a second home, vacation home, investment property, or commercial building — this exemption may help lower your future tax bill.
At Plantation Realty Group, we make sure our clients understand every advantage available to them when purchasing property along the Grand Strand. Our team combines local expertise with personalized guidance to help buyers navigate tax benefits like the ATI Exemption with confidence
What Is the ATI Exemption?
The ATI Exemption is a state‑approved tax reduction designed to prevent large jumps in property taxes when ownership changes. Normally, when a property sells, its taxable value resets to market value, which can cause a sharp increase in taxes. The ATI Exemption helps soften that jump by reducing the taxable amount by up to 25% for qualifying properties.
Who Qualifies?
Buyers who purchased property taxed at the 6% assessment ratio may be eligible. This includes:
- Second homes
- Vacation properties
- Investment or rental homes
- Commercial real estate
Primary residences taxed at the 4% rate do not qualify.
How the Savings Work
The exemption applies to the difference between the previous taxable value and the new market value after the sale. Reducing that difference by up to 25% can create meaningful long‑term savings for property owners.
Important Filing Deadlines
To receive the exemption, property owners must apply with their county assessor. The deadline varies depending on the purchase year:
- For properties purchased in 2024: File by January 31, 2025.
- For properties purchased in 2025: File by January 30, 2026 to avoid waiting an additional year for the savings to apply.
Missing the deadline means the exemption won’t apply until the following tax year, so timely filing is essential.
Where to Apply
Applications are submitted through your county assessor’s office — either online or in person, depending on the county. Each county may present the information differently, so buyers should review their local assessor’s website or contact their closing attorney for guidance. For the Horry County application click here.
Why This Matters for Myrtle Beach Buyers
With rising property values across the Grand Strand, the ATI Exemption can help offset tax increases and make investment properties more affordable. Understanding South Carolina’s property tax laws — including the ATI Exemption — is an important part of making smart real estate decisions. At Plantation Realty Group, our team is committed to helping buyers and investors navigate these details with confidence.
Our Broker‑in‑Charge, Rob Mason, provides clear guidance, local expertise, and personalized support for anyone purchasing along the Grand Strand. If you’re considering buying or selling in the Myrtle Beach area, Plantation Realty Group is ready to help you take the next step with trusted local insight.
Source Acknowledgment
This blog post was created using publicly available information from the South Carolina REALTORS® (SCR) website. For additional details and updates, you can visit the original resources:
